A Wales-based financial institution is encouraging families to investigate whether young adults in their household have dormant Child Trust Fund accounts containing unclaimed funds.
The mutual organisation, which ranks as the sixth-largest building society in the United Kingdom, issued the call during UK Savings Week, aligning with a Financial Conduct Authority campaign urging those aged 18 to 30 to verify whether they possess forgotten accounts from the government savings initiative launched in the early 2000s.
Official figures from HMRC indicate that approximately 760,000 accounts remain unclaimed, with each holding an average balance of around £2,000.
Research conducted by the University of Bristol in September 2025, undertaken on behalf of the Building Societies Association and supported by Principality Building Society, demonstrated that households maintaining approximately £2,000 in accessible savings experienced significantly lower rates of payment arrears compared with families possessing reserves below £200.
The investigation revealed that financial buffers of this magnitude assisted households in navigating unforeseen expenses and managing intervals of reduced income or increased expenditure.
Morgan Miles, who leads savings product development at Principality Building Society, explained that the research underscores the value of accumulating savings regardless of life stage.
He noted that while £2,000 might appear modest, the findings illustrate how this particular sum can substantially strengthen a household’s capacity to withstand financial shocks and work toward longer-term objectives.
Andrew Gall, Head of Savings, Consumer and Insight at the Building Societies Association, observed that for numerous young adults, locating an overlooked Child Trust Fund could mark the beginning of their engagement with regular saving.
He emphasised that maintaining accessible funds creates greater stability and expands future financial possibilities.
Building societies throughout the United Kingdom are using this observance to promote improved financial planning practices among their members and the wider public.